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20110701
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for wars in iraq and afghanistan. >> reporter: without finding some common ground the u.s. will default which will shake up the financial markets. >> nasty consequence, not just for the united states, but for the entire global economy. because the u.s. is such a big player. >> reporter: the white house says making a deal by the end of the week is crucial in order to meet that august 2nd deadline. now, should the nation reach that debt ceiling, the consequences could be devastating. it -- the brunt being felt by everything from businesses, wall street, financial markets would feel that, so would we, right down to individual households, all interest rates would go up, so it really would result in any sector of the economy. not anyone is talking about that being an actual outcome, that's the good news. >> let me ask you about that, all we hear publicly is how they are not compromising, are you hearing anything privately there is a sense of compromise down the road. >> we're sensing there is a true determination to come to an agreement on this deal because there is no alternative. no, these
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